Content Writer: Janice Chew • Sunday, 25/11/2025 - 20:58:29 - PM
South Korea’s foreigner-only casino operator Paradise Co Ltd has revealed that its scheduled purchase of the 501-room West Tower of the Grand Hyatt Incheon hotel, adjacent to the integrated resort Paradise City, will be postponed from 31 October to 19 December. The building price remains set at KRW 210 billion (approx. US$151 million) for the tower alone, while the land remains owned by the Incheon International Airport Corporation.
The acquisition is significant for Paradise City, as the inclusion of the West Tower would raise its room inventory from 769 rooms to 1,270 rooms — a roughly 65 % increase in capacity. Paradise Co has described the move as a strategic effort to “strengthen competitiveness as an integrated resort operator and expand sustainable growth through increased foreign tourism demand.”
The delay in closing appears to be driven by timing adjustments related to meeting pre-transaction conditions rather than any change in price or intent. According to the company’s filing, the change reflects “some adjustments on fulfilment of certain preconditions to the transaction.” This suggests that while the initiative remains on track, the execution schedule is being moderated to reflect practical readiness.
From a broader perspective, the acquisition (and its delay) signals Paradise Co’s commitment to scaling its resort offerings for international visitors, particularly given its JVs and operations in Seoul, Busan and Jeju. However, the delay also highlights that even well-planned strategic expansions can face timing risks — meaning that market observers should keep watch on when the integration truly begins and how quickly the capacity uplift translates into revenue gains.